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This text emphasizes that the information provided is for educational purposes only and does not constitute legal, tax, or financial advice. It highlights the importance of consulting with licensed professionals for specific business needs. It discusses the significance of an Operating Agreement in an LLC, defining it as an agreement between members that outlines financial and operational management. Unlike Formation Documents, the Operating Agreement is not required to be submitted to the State and should be kept with business records. The Agreement determines member ownership percentages and details how the LLC is managed.